CAPE TOWN – DA shadow minister of co-operative governance and traditional affairs Kevin Mileham said on Wednesday that newly appointed Finance Minister, Tito Mboweni, needed to take swift actions action against all those implicated in the VBS Mutual Bank scandal.

Earlier this year the DA laid criminal charges against individuals who were allegedly involved in the VBS fraud, corruption and racketeering scandal. 

The forensic investigation report, “VBS Mutual Bank – The Great Bank Heist”, released by the SA Reserve Bank on Wednesday, implied that there were even more people involved than originally thought. These include politicians and officials.

The report recommends that more than 50 individuals be criminally charged and held liable in civil proceeding.

“The DA supports this recommendation and calls on the newly appointed Minister of Finance… to move swiftly with authorities to take action against all those implicated, especially the politicians and those close to politicians, such as Brian Shivambu, brother of the EFF’s Floyd Shivambu, who is implicated in the scandal. 

“It is no surprise why the EFF has been vocal about defending the corruption that took place at VBS which saw many South Africans in danger of losing their hard earned money and municipal funds wasted.

“It is paramount that the Minister takes a strong stance against corruption.

“The VBS scandal has severe consequences on South Africans as multiple municipalities are at risk of losing revenue which directly affects their ability to provide basic services and compromises access to jobs,” said Mileham in the statement.

BUSINESS REPORT ONLINE